Gambling
tourists to provide a much needed boost for the Australian
economy

Gambling
tourists to provide a much needed boost for the Australian
economy

The
price of the dollar is at all-time low on the international
market, yet casino bosses believe that gambling tourism
could well provide a much needed boost. More specifically,
they aim to attract more wealthy Chinese visitors
to our shores. In fact, many experts believe that
China holds the key to the recovery of our struggling
economy.

Both
regional authorities and politicians here appear ready
to welcome the potential that new casino resorts deliver
In addition, Queensland Echo Entertainment have just
won the rights to build a casino-based resort at the
Queens Wharf waterfront development on the Brisbane
beach front.

This
project was sanctioned by the authorities on the basis
that hundreds of thousands of visitors from China
and other far Eastern countries are making their way
our shores as tourists every year. According to reports,
these visitors are apparently desperate to enjoy high-class
gaming opportunities and all of the luxuries that
many high rollers have come to expect.

While
Australians will be very welcome to stay and gamble
at these resorts, it is widely believed that they
will not be so enamoured by the bright lights of these
casinos. Aussies are by no means against gambling.
In fact, the figures show that as a nation, we are
the most avid players, pretty much anywhere in the
world.

However,
the figures also show that Australians prefer online
gambling sites, with the slot
machines on 32Red website proving a particular
favourite, in addition to others like Foxy Casino
and Betway.

Why
do Australians love online casinos?

As
previously stated, the domestic marketplace caters
extensively to Australians who love to gamble. Australians
have become accustomed to enjoying the thrills of
a big night out without all of the additional expense
that a visit to a real casino entails. This in turn
has led to a taste for 32Red and other online gambling
sites.

The
performance of many existing casinos across Australia
has been pretty lack lustre in terms of overall revenue
growth and operating profit. This is perhaps unsurprising
given our nations apparent apathy for such resorts.
This is obviously another reason why casino bosses
look specifically to tourism as a way of turning things
around. It seems the Chinese will play a key role
in helping them to achieve this

Why
is China so significant to the Australian economy?

In
2014, just under a million Chinese visitors came to
Australia, either as holidaymakers, or as visitors.
This figure represents a 21.7% increase on 2013. While
more New Zealanders visited last year, it is perhaps
unsurprising that Chinese tourists proved to be the
bigger spenders. Indeed, their arrival on our shores
bought in a whopping $5.7 billion - 19% more than
in 2013!

Meanwhile,
ASF China Property Consortium, a group of companies
which includes state-run Chinese giants China Communications
Construction Company, China State Construction Engineering
Corporation Limited, Guangzhou Dredging Co Ltd was
successful in applying for a permit to build a $7.5
billion casino and cruise ship terminal on the Gold
Coast.

What
are the benefits for Australians and the country as
a whole?

Experts
believe that by catering more to these visitors, Australia
will soon begin attracting millions of
visitors from China on an annual basis. This will
create thousands of jobs, as well as encouraging further
investment.

The
Australian economy is currently benefiting greatly
from Chinese interests. Indeed, reports say that the
Chinese have helped to drive a 33% jump in Australian
home prices as a result of their investment. This
apparently comes as a result of Chinas hunger
for overseas real estate as its wealthy businessmen
look for alternatives as way out of increasingly unstable
markets in their homeland.

In
addition, these shrewd Chinese businessmen know how
to attract Chinese tourists. In allowing Chinese investment,
authorities in Queensland and elsewhere obviously
see this as a great way of capitalising on the growth
of tourism from that particular nation. As stated
in an
article from incapital.co.au back in 2013, it
is important that Australia offer a product
that [the Chinese] are interested in to keep
the revenue coming.